GAMMA Investing LLC Purchases 3,558 Shares of Visa Inc. (NYSE:V)

GAMMA Investing LLC boosted its stake in Visa Inc. (NYSE:V) by 19.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,675 shares of the credit-card processor’s stock after acquiring an additional 3,558 shares during the period. Visa accounts for 1.2% of GAMMA Investing LLC’s portfolio, making the stock its 9th largest position. GAMMA Investing LLC’s holdings in Visa were worth $6,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Nadler Financial Group Inc. raised its holdings in Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 44 shares in the last quarter. Towerpoint Wealth LLC acquired a new stake in Visa in the fourth quarter valued at $216,000. Andrew Hill Investment Advisors Inc. acquired a new stake in Visa in the fourth quarter valued at $3,427,000. Richelieu Gestion SA acquired a new stake in Visa in the fourth quarter valued at $307,000. Finally, Cooper Financial Group increased its stake in Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after purchasing an additional 476 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V opened at $273.62 on Thursday. The firm has a 50-day moving average price of $273.96 and a 200 day moving average price of $272.71. The firm has a market capitalization of $500.43 billion, a PE ratio of 30.57, a P/E/G ratio of 1.87 and a beta of 0.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $224.98 and a 52-week high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the prior year, the company earned $2.09 EPS. Visa’s revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. In the last three months, insiders sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. Piper Sandler initiated coverage on shares of Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 target price for the company. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. Oppenheimer boosted their target price on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Evercore ISI boosted their target price on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Robert W. Baird upped their price target on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $303.76.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.